Starting Dynare (version 5.5).
Calling Dynare with arguments: none
Starting preprocessing of the model file ...
Found 15 equation(s).
Evaluating expressions...done
Computing static model derivatives (order 1).
Computing dynamic model derivatives (order 1).
Processing outputs ...
done
Preprocessing completed.


STEADY-STATE RESULTS:

yU      		 0.57165
iU      		 0.183667
xiU     		 1.04134
PU      		 0.0125
psi_p   		 0.383005
n0_p    		 0.000850339
gam_p   		 0.835847
kU      		 0.183667
nU      		 0.0183667
LU      		 10
RbU     		 1.01279
rkhatsU 		 -0.0137663
aU      		 0
cU      		 0.387983
hU      		 1

EIGENVALUES:
         Modulus             Real        Imaginary

       2.193e-17        2.193e-17                0
       4.614e-16        4.614e-16                0
       2.859e-15        2.859e-15                0
          0.5607           0.5607                0
          0.9374           0.9374                0
            0.95             0.95                0
           1.829            1.829                0
       4.765e+16        4.765e+16                0


There are 2 eigenvalue(s) larger than 1 in modulus 
for 2 forward-looking variable(s)

The rank condition is verified.


MODEL SUMMARY

  Number of variables:         15
  Number of stochastic shocks: 2
  Number of state variables:   6
  Number of jumpers:           2
  Number of static variables:  7


MATRIX OF COVARIANCE OF EXOGENOUS SHOCKS
Variables          ea        en
ea           1.000000  0.000000
en           0.000000  0.360000

POLICY AND TRANSITION FUNCTIONS
                                  yU              iU             xiU              PU           psi_p            n0_p           gam_p              kU              nU              LU             RbU         rkhatsU              aU              cU              hU
Constant                    0.571650        0.183667        1.041339        0.012500        0.383005        0.000850        0.835847        0.183667        0.018367       10.000000        1.012793       -0.013766               0        0.387983        1.000000
kU(-1)                      1.856208        0.555763       -2.288381        0.277241               0               0               0        0.555763       -0.007100       34.125259       -1.464135       -1.066470               0        1.300445        2.164738
nU(-1)                             0        0.752706               0       -3.764170               0               0               0        0.752706        0.926250     -463.327930        1.409490       -3.756402               0       -0.752706               0
LU(-1)                             0       -0.000036               0        0.000180               0               0               0       -0.000036       -0.000044        0.022099       -0.000067        0.000179               0        0.000036               0
RbU(-1)                            0       -0.003190               0        0.015954               0               0               0       -0.003190       -0.003926        1.963799       -0.005974        0.015921               0        0.003190               0
rkhatsU(-1)                        0               0       -1.041339               0               0               0               0               0               0               0               0               0               0               0               0
aU(-1)                      0.981447        0.284001        1.787841        0.091599               0               0               0        0.284001        0.007692       11.274776        0.944738        1.058079        0.950000        0.697446        1.144578
ea                          0.010331        0.002989        0.018819        0.000964               0               0               0        0.002989        0.000081        0.118682        0.009945        0.011138        0.010000        0.007342        0.012048
en                                 0       -0.812638               0        4.063881               0               0               0       -0.812638       -1.000000      500.219088       -1.521717        4.055495               0        0.812638               0


THEORETICAL MOMENTS
VARIABLE            MEAN     STD. DEV.      VARIANCE
yU                0.5716        5.6293       31.6894
iU                0.1837        3.0325        9.1963
xiU               1.0413        3.6706       13.4730
PU                0.0125        6.3111       39.8306
psi_p             0.3830        0.0000        0.0000
n0_p              0.0009        0.0000        0.0000
gam_p             0.8358        0.0000        0.0000
kU                0.1837        3.0325        9.1963
nU                0.0184        1.7202        2.9590
LU               10.0000      776.8327   603468.9682
RbU               1.0128        2.2872        5.2312
rkhatsU          -0.0138       10.0977      101.9645
aU                0.0000        0.0320        0.0010
cU                0.3880        2.7128        7.3592
hU                1.0000        6.5650       43.0994



VARIANCE DECOMPOSITION (in percent)
               ea      en
yU           0.02   99.98
iU           0.01   99.99
xiU          0.00  100.00
PU           0.00  100.00
psi_p        0.00  100.00
n0_p         0.01   99.99
gam_p        0.00  100.00
kU           0.01   99.99
nU           0.00  100.00
LU           0.00  100.00
RbU          0.00  100.00
rkhatsU      0.00  100.00
aU         100.00    0.00
cU           0.03   99.97
hU           0.02   99.98



MATRIX OF CORRELATIONS
Variables         yU       iU      xiU       PU       kU       nU       LU      RbU  rkhatsU       aU       cU       hU
yU            1.0000   0.9820   0.9606  -0.8908   0.9820   0.9120  -0.8908  -0.8830  -0.9590   0.0125   0.9774   1.0000
iU            0.9820   1.0000   0.9709  -0.9607   1.0000   0.9731  -0.9607  -0.7784  -0.9953   0.0070   0.9198   0.9820
xiU           0.9606   0.9709   1.0000  -0.9222   0.9709   0.9360  -0.9222  -0.7798  -0.9627   0.0006   0.9080   0.9606
PU           -0.8908  -0.9607  -0.9222   1.0000  -0.9607  -0.9988   1.0000   0.5736   0.9831   0.0011  -0.7747  -0.8908
kU            0.9820   1.0000   0.9709  -0.9607   1.0000   0.9731  -0.9607  -0.7784  -0.9953   0.0070   0.9198   0.9820
nU            0.9120   0.9731   0.9360  -0.9988   0.9731   1.0000  -0.9988  -0.6130  -0.9909   0.0003   0.8047   0.9120
LU           -0.8908  -0.9607  -0.9222   1.0000  -0.9607  -0.9988   1.0000   0.5736   0.9831   0.0011  -0.7747  -0.8908
RbU          -0.8830  -0.7784  -0.7798   0.5736  -0.7784  -0.6130   0.5736   1.0000   0.7140   0.0014  -0.9621  -0.8830
rkhatsU      -0.9590  -0.9953  -0.9627   0.9831  -0.9953  -0.9909   0.9831   0.7140   1.0000   0.0012  -0.8774  -0.9590
aU            0.0125   0.0070   0.0006   0.0011   0.0070   0.0003   0.0011   0.0014   0.0012   1.0000   0.0181   0.0125
cU            0.9774   0.9198   0.9080  -0.7747   0.9198   0.8047  -0.7747  -0.9621  -0.8774   0.0181   1.0000   0.9774
hU            1.0000   0.9820   0.9606  -0.8908   0.9820   0.9120  -0.8908  -0.8830  -0.9590   0.0125   0.9774   1.0000



COEFFICIENTS OF AUTOCORRELATION
Order           1       2       3       4       5
yU         0.9820  0.9455  0.9003  0.8518  0.8029
iU         0.9820  0.9455  0.9003  0.8518  0.8029
xiU        0.9222  0.8559  0.7975  0.7449  0.6968
PU         0.9222  0.8559  0.7975  0.7449  0.6968
kU         0.9820  0.9455  0.9003  0.8518  0.8029
nU         0.9372  0.8784  0.8234  0.7718  0.7234
LU         0.9222  0.8559  0.7975  0.7449  0.6968
RbU        0.8422  0.7362  0.6602  0.6021  0.5550
rkhatsU    0.9690  0.9260  0.8779  0.8286  0.7798
aU         0.9500  0.9025  0.8574  0.8145  0.7738
cU         0.9427  0.8866  0.8328  0.7816  0.7332
hU         0.9820  0.9455  0.9003  0.8518  0.8029
Total computing time : 0h00m02s
